Nepal’s
membership negotiation ended on 15 August when the WTO working party
wrapped up its work. Following closely behind Cambodia, Nepal is set to be
the second least-developed country to join the WTO through the full
working party process. Both countries’ membership is likely to be approved
at the Cancún Ministerial Conference in September.

The WTO working party handling Nepal's membership negotiation
completed its work, Friday 15th of August, leaving a final decision
approving membership for the Cancún Ministerial Conference, in September.

The working party approved its report containing Nepal’s commitments under
various WTO agreements, along with its promises on market access for goods
and services.

Nepal is now on target for its membership to be approved by the next
Ministerial Conference, although it can only become a member 30 days after
it has ratified the agreement and informed the WTO. This would make Nepal
and Cambodia the first least-developed countries to join the WTO through the
full working party process since the WTO was set up in 1995. Cambodia
completed its negotiations on 22 of July and the package of accession
documents are also expected to be approved at the Ministerial Conference in
Cancún.

After the adoption of the accession package, Mr. Dinesh Pyakural, Secretary,
Ministry of Industry, Commerce and Supplies and Chief Negotiator for Nepal,
said that in the process of bilateral negotiations Nepal has bound the
tariff rate at around 42% in agricultural products and around 24% in other
products.

Mr. Dinesh Pyakural said: “We are confident that WTO membership will enhance
our capacity and capability to be more competitive in trade through policy
and legislative reforms to attain an overall increase in trade efficiency
and effectiveness”.

The chairman of the Working Party, ambassador Pierre Louis Girard, said,
after the adoption of the accession package: “This is an important step in
making the WTO a more global organization with an appropriate representation
of the Least Developed Countries”.

The Working Party to consider the application of Nepal to join the WTO was
established in June 1999.